Buyback Provision Sample Clauses
POPULAR SAMPLE Copied 5 times
Buyback Provision. If a vehicle accepted under the Daily Rental Guaranteed Residual Program is unsold through the 90th day after acceptance, GM will transfer the vehicle from the Daily Rental Guaranteed Residual Program to the Daily Rental Acquisition Program on the 91st day, unless GM receives instructions from the DRFC to the contrary by the 89th day pursuant to the Turn In Standards and Procedures (Attachment 1B, Section VII-H – Other). Upon transfer to the Daily Rental Acquisition Program, GM will initiate payment to the DRFC owning the vehicle for the full guaranteed purchase price (less GM charges allowed under the program) within the BARS system. The DRFC will be paid in approximately 7 Business days. The DRFC will assign the title of such vehicle, or cause such title to be assigned, to GM on the 91st day after acceptance. GM will perform a weekly scan of the inventory with a run cycle to occur over the weekend to avoid mid-week program changes. If the number of vehicles in the Daily Rental Acquisition Program for any DRFC exceeds 3% of its total accepted inventory (“Excess Amount”), then GM will instruct the auctions not to transfer vehicle titles to GM for those vehicles until the DRFC has received payment from GM for those vehicles so that the Excess Amount is eliminated. Once the DRFC receives payment for those vehicles, GM will instruct the auctions to transfer title to GM for those returned vehicles. This metric (3%) will be calculated on a weekly basis concurrent with the scan of inventory.
Buyback Provision. Seller shall have the option to buy back the Property at the Purchase Price plus 5% compounded and with the basis being adjusted for additional Capital Expenditure and improvements on the Property. This buyback provision shall expire 20 years from the closing date.
Buyback Provision. Not Applicable to this Contract
Buyback Provision. The Seller, in its sole discretion, shall have the right to buy back the business if after six (6) months and until two (2) years have from the Closing Date, one of the following conditions occur: EVENT A: Seller, due to restrictions on Buyer’s stock, has been unable to sell a minimum of $600,000.01 worth of stock obtained from Buyer in this transaction.
Buyback Provision. BACE has the right to purchase the 10 shares of Optimal Stock from Slancik for $1 per share within five years from the date of this Agreement if Slancik is not employed by BACE or an affiliate of BACE. This purchase right shall expire at the earlier to occur of a) the sale of substantially all of the stock or assets of Optimal, b) at the end of said five year period, or c) at the death or disability of Slancik. For purposes of this 2.1, disability means that Slancik has become disabled to an extent which substantially impairs Slancik's ability to perform employment obligations, as determined in good faith by BACE.
Buyback Provision. In the event that the Registration Statement, as amended, is not declared effective by the Securities Exchange Commission on or before March 31, 1999, Purchaser may, upon written notice to the Company given prior to the date such Registration Statement is declared effective, require the Company to elect one of the following two alternatives, provided, however, that the Company shall have sole discretion to choose which alternative to elect (subject to the restrictions set forth below):
(a) The Company will be obligated to repurchase six hundred thousand (600,000) Preferred Shares from Purchaser at a price of five dollars ($5.00) per share, for a total purchase price of three million dollars ($3,000,000). This amount shall be received by Purchaser or an entity designated by Purchaser within five (5) business days of receipt by the Company of Purchaser's notice, and shall be transferred in the form of a wire transfer, certified check, or any other method agreed to by Purchaser.
(b) Purchaser will no longer be bound by the provisions of Section 3.3 ("Exclusivity") of the Technology Transfer Agreement. In the event that the Company has not notified Purchaser in writing of its election of one of the two alternatives set forth above within five (5) days of receipt of Purchaser's written notice as set forth in this Section 8.1, the provision of paragraph (b) shall be deemed to have been chosen.